Caixin
Nov 01, 2021 06:48 PM
OPINION

Editorial: Guiding Expectations Can Help Property Tax Pilot Progress Smoothly

China should continuously sum up the gains and losses through these pilots and steadily expand the reform to the whole country. Photo: VCG
China should continuously sum up the gains and losses through these pilots and steadily expand the reform to the whole country. Photo: VCG

The property tax pilot has been further sped up. Decision-makers have required the active and careful implementation of the legislation and reform of property tax, and that the pilot work be done correctly. On Oct. 23, the Standing Committee of the National People’s Congress (NPC) approved a decision authorizing the State Council to carry out a five-year pilot of property tax reform in some regions. An overall plan for the property tax is expected to be announced soon. The pilot is an important part of promoting the property tax in a comprehensive way and considering its complexity and sensitivity, the decision to carry out the pilots immediately is both necessary and correct.

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